Singapore

ESG / Sustainability

MAS Calls on Investors to Engage with Listed Companies

By Manesh Samtani | 11/10/2022

Asset managers and retail investors are encouraged to more actively engage with their investee companies and participate in setting their strategic direction.

AML / KYC

Singapore Punishes Ex-BSI Banker Over 1MDB Failings

By Sanday Chongo Kabange | 11/10/2022

BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.

AML / KYC

Singapore Government Publishes New National CTF Strategy

By Editors | 09/10/2022

A national risk assessment found remittance agents and banks to be the most vulnerable. MAS will develop new guidance for both sectors.

AML / KYC

ACRA Implements Requirements to Disclose Nominees, Controllers

By Editors | 08/10/2022

Local and foreign companies are required to maintain a register of nominee shareholders, and lodge information on their controllers with ACRA.

Enforcement

HK Court Orders Founder to Buy Shares from Wronged Investors

By Editors | 07/10/2022

The order is the first made to require a listed company executive to buy shares held by other investors “at a price to be determined by the court”.

AML / KYC

Singapore Passes Amendments to Accountants Act

By Manesh Samtani | 06/10/2022

ACRA is empowered to conduct inspections on accounting entities, compel them to remediate lapses identified, and impose sanctions when necessary.

ESG / Sustainability

MAS Launches ESG Impact Hub, New Advisory Panel

By Sanday Chongo Kabange | 06/10/2022

At launch, 15 ESG fintechs and organisations are already set up at the Hub – including CDP, Climate Impact X, KPMG, MUFG, and STACS.

AML / KYC

Singapore Passes Amendments to Business Trusts Act

By Editors | 05/10/2022

Unlisted business trusts will have to obtain and maintain information on the beneficial owners of units, and provide this information to authorities upon request.

ESG / Sustainability

MAS Announces Initiatives to Promote Blended Finance

By Editors | 05/10/2022

S$5mn in grants will fund innovations in blended finance. The GFANZ APAC Network will develop guidance for FIs on phasing out coal power.